Founder of Anthony’s Restaurants and Children Discuss Generational Transition

On January 10, 2019, the Seattle office of Davis Wright Tremaine hosted Bud Gould and his children to discuss the history and legacy of one of the most iconic Northwest family-owned restaurant chains, Anthony’s Home Port and the Anthony’s restaurants. The discussion was part of the Family Business Legacy Series, hosted by Davis Wright Tremaine and co-sponsored by Moss Adams, the Pacific Family Business Institute and Cascadia Capital.

Bud Gould told the listening audience of family business owners about the history of the business, their first restaurant and the successes and failures they have had since then. Mostly, though, he and his four adult children spoke about the ongoing efforts to transition the business to the next generation. Of the four children, all are involved in the business in some fashion, although only three work there day-to-day. The Gould family was candid about the challenges of generational transition, balancing family and work, defining roles and responsibilities and what the “rules” for all these things ought to be. Although the transition is still very much a work in progress, the Gould family showed that one of the most important ingredients of a successful family business and a successful generational transfer are the trust, respect and warmth the family members all obviously share.

We invite family business owners and operators to join us for the next installment of the Family Business Legacy Series. Details will be provided in advance here on the Family Business Resource Center.